QF Group possible Redundancy Numbers/Packages
Join Date: May 2011
Location: Oz
Posts: 496
Originally Posted by dr dre
With multiple billion dollar profits leading up to this year, decent reserves of cash to stay afloat for 18 months and good financial discipline have put the company in one of the best positions for an airline worldwide in dealing with this. The way some posters here are talking they would rather the airline be loaded up to the eyeballs in debt paying off orders of dozens of 777s.
Being in this position didn’t come about by luck, it was due to smart financial management.
Being in this position didn’t come about by luck, it was due to smart financial management.
Approximately $3.5B has been spent on share buybacks from October 2015, taking number of shares on issue from 2.198B down to 1.464B.
Now raising $1.9B issuing 509m shares which takes us back up to 1.973B shares.
My back of the envelope calculations have that as over $500m in capital destroyed. Not sounding so smart to me.
Join Date: Dec 2000
Location: Australia
Posts: 896
I’m not sure how you expect him not to destroy some equity in the middle of a pandemic? Same reason unfortunately airlines are letting 20-50-100% of their staff go. I mean never waste a crisis but things can’t stay the same and survive in this environment.
Join Date: May 2011
Location: Oz
Posts: 496
Originally Posted by ozbiggles
I’m not sure how you expect him not to destroy some equity in the middle of a pandemic? Same reason unfortunately airlines are letting 20-50-100% of their staff go. I mean never waste a crisis but things can’t stay the same and survive in this environment.
My comments are purely from a financial management perspective and directly aimed at buybacks. Buybacks are what you do to increase a share price, by reducing shares on issue, as opposed to increasing your share price through investment. In financial circles, it’s usually scorned upon because it shows a lack of vision. This buyback has demonstrated why and has directly resulted in the loss of more than $500m.
$3.5B is a huge sum of money that could have been invested elsewhere. For those that are saying we are so lucky that we aren’t up to our eyeballs in debt because Qantas invested in a fleet of 777/350’s, well that’s not true. We could have had a fleet of 12(747 replacement) and an extra $1B in the bank. I’m not saying this is how Qantas should have spent the money, it’s just that the calls of being in more financial trouble than we currently are, aren’t true.
Now having said that, I will give credit where it’s due. I’m very impressed that AJ has diversified through Qantas Loyalty into credit cards and insurance. Qantas Loyalty would be helping stem the losses and making us a viable attractive business. I think right now Qantas needs stability and I think AJ provides that, all I was doing is pointing out that AJ is not the messiah that some seem to be making him out to be.
Join Date: May 2011
Location: Oz
Posts: 496
Originally Posted by ozbiggles
You could have had Borghetti!
Edit: I do also want to add, I feel very lucky to work for Qantas, always have and always will.
Join Date: Jun 2001
Location: Syd, NSW
Posts: 355
With QF now a very different airline going forward do we need 3 CEO’s?
Surely we should make at least 1 redundant. Andrew David has been MIA (couldn’t phone in to at least 1 webinar over the last 8 weeks wtf?)
And then we have Tino, CEO of a non existent International.
Surely we should make at least 1 redundant. Andrew David has been MIA (couldn’t phone in to at least 1 webinar over the last 8 weeks wtf?)
And then we have Tino, CEO of a non existent International.
Join Date: Dec 2013
Location: Elsewhere
Posts: 408
Seems to me that the problem with Borghetti was that he tried to run Virgin like it was Qantas. Perhaps if he’d got to run Qantas like it was Qantas, the result would’ve been very different. We’ll never know.
Join Date: Jun 2007
Location: The Outer Marker hut
Posts: 203
So the latest on JQ “surplus” Perth and Newcastle crews seem to be (in a nut shell), give us 2 years of a concessional EBA and we might not make those crews redundant. Can’t say I’m surprised but seriously can this guy give an already very stressed workforce a break.
Join Date: Dec 2004
Location: melbourne
Posts: 249
Originally Posted by CaptCloudbuster
With QF now a very different airline going forward do we need 3 CEO’s?
Surely we should make at least 1 redundant. Andrew David has been MIA (couldn’t phone in to at least 1 webinar over the last 8 weeks wtf?)
And then we have Tino, CEO of a non existent International.
Surely we should make at least 1 redundant. Andrew David has been MIA (couldn’t phone in to at least 1 webinar over the last 8 weeks wtf?)
And then we have Tino, CEO of a non existent International.
Maybe the title entitles them to more pay without being scrutinised by shareholders etc.
On the point of having large cash reserves,seems contradictory to go & mortgage every aircraft you can & then do an equity raising,paying interest on borrowed money & pushing the share price lower is an interesting way to save money.
Join Date: Apr 2016
Location: Earth
Posts: 59
Originally Posted by blubak
Why have they ever needed 3 X ceo?
Maybe the title entitles them to more pay without being scrutinised by shareholders etc.
On the point of having large cash reserves,seems contradictory to go & mortgage every aircraft you can & then do an equity raising,paying interest on borrowed money & pushing the share price lower is an interesting way to save money.
Maybe the title entitles them to more pay without being scrutinised by shareholders etc.
On the point of having large cash reserves,seems contradictory to go & mortgage every aircraft you can & then do an equity raising,paying interest on borrowed money & pushing the share price lower is an interesting way to save money.
Andrew David - Domestic and Freight
Tino - International
Olivia - Loyalty
Gareth Evans - Jetstar
And Alan Joyce, CEO of CEO's.
https://www.qantas.com/au/en/qantas-...eadership.html
Join Date: Dec 2004
Location: melbourne
Posts: 249
Originally Posted by unobtanium
Try 5
Andrew David - Domestic and Freight
Tino - International
Olivia - Loyalty
Gareth Evans - Jetstar
And Alan Joyce, CEO of CEO's.
https://www.qantas.com/au/en/qantas-...eadership.html
Andrew David - Domestic and Freight
Tino - International
Olivia - Loyalty
Gareth Evans - Jetstar
And Alan Joyce, CEO of CEO's.
https://www.qantas.com/au/en/qantas-...eadership.html
We been everywhere men.
Join Date: Jul 2007
Location: the City by the Bay
Posts: 528
Join Date: Oct 2016
Location: Melbourne
Posts: 185
I do expect some equity to be destroyed during a pandemic, the outflow of $40m a week is testament to that. There’s nothing you, I or AJ can do about that.
Struth 40m a week, as a comparison during Ansett's last years they were losing 7m a week. The value of money in 20 years. I realise different era.
Struth 40m a week, as a comparison during Ansett's last years they were losing 7m a week. The value of money in 20 years. I realise different era.
Join Date: May 2013
Location: Earth
Posts: 148
Originally Posted by armchairpilot94116
